February 14, 2021
Keshav Bhajanka, Executive Director, Century Ply× As demand improves in the post-Covid era, Century Plyboards is looking at a Rs 650 crore cap-ex plan, its largest in recent times, over the next two years.
The company will add a greenfield plant, an MDF (medium density fiberboard) unit in South India at an estimated cost of Rs 450 crore. The unit is expected to be operational by FY23. Details of the State where the unit would come up and its capacity are yet to be finalised.
The other aspect is with regards to the brownfield expansion. The company is ramping up capacities at its MDF plant at Hoshiarpur in Punjab by 67 per cent (from 600 cubic meters per day to 1000 cubic meters per day) at an estimated cost of Rs 200 crore. Commercial production will start in the next 12 months.
Basic materials stocks were trading with gains, with the S&P BSE Basic Materials index increasing 19.86 points or 0.52% at 3853.82 at 09:48 IST. Among the components of the S&P BSE Basic Materials index, Manali Petrochemicals Ltd (up 14.53%), Polyplex Corporation Ltd (up 12.1%),Sunflag Iron & Steel Company Ltd (up 3.25%),Hil Ltd (up 2.85%),Sandur Manganese & Iron Ores Ltd (up 2.67%), were the top gainers. Among the other gainers were J K Cements Ltd (up 2.67%), Century Plyboards (India) Ltd (up 2.56%), Vedanta Ltd (up 2.45%), DCW Ltd (up 2.41%), and Linde India Ltd (up 2.41%). On the other hand, Indian Metals & Ferro Alloys Ltd (down 7.86%), Gujarat Alkalies & Chemicals Ltd (down 5.66%), and Greenpanel Industries Ltd (down 4.48%) turned lower.
Read more about Century Plyboards (India) standalone net profit rises 245.10% in the December 2020 quarter on Business Standard. Sales rise 9.90% to Rs 654.36 crore
This has been the best quarter in our company s history. All of our product divisions including plywood, MDF, particle boards have performed well, says MD Sanjay Agarwal